MGT Capital Partners with Bit5ive to Produce 1-Megawatt Crypto Mining Pod
MGT Capital Collaborates With Bit5ive To Produce 1 Megawatt Crypto Mining Pod
MGT Capital Investments, Inc. has announced that it has entered into partnership with Bit5ive LLC to design and manufacture a crypto mining pod capable of operating 1MW of mining hardware.
The POD5 will be a fully-assembled containerized turnkey solution with all mounting racks, cabling, power distribution hardware, wiring, and networking included.
The pod will be branded and sold by Bit5ive as POD5, with MGT retaining naming rights for its corporate owned pods. In return for royalty payments from Bit5ive, MGT is providing its engineering and design expertise as well as capital to develop the final production model. Orders are expected to begin in mid-September 2018.
In addition, the POD5 will offer a proprietary cooling method allowing for maximum density within the container.
According to Stephen Schaeffer, Chief Operating Officer of MGT they believe that the 1-megawatt layout allows for both portability and flexibility to accommodate varying deployments in different locations. They fully intend to utilize the design in the future expansion of our Bitcoin mining operations.
Robert Collazo, Founder and Chief Executive Officer of Bit5ive also commented and said the 1-megawatt pod idea was borne from interest of their customer base that was looking for a solution offering greater density within the container form factor. With the collaborative efforts of their team and MGT, he said they have designed an excellent configuration for a turnkey container requiring minimal setup effort to allow for quick mining startup.
Operating in facilities in northern Sweden and Washington State, MGT Capital Investments, Inc. ranks as one of the largest U.S. based Bitcoin miners. MGT owns and operates approximately 6,800 Bitmain S9 miners, and 50 GPU-based Ethereum mining rigs.